Dowes Wealth

02/11/2026

2026 Autumn Budget: What hasn’t changed?

The £20,000 limit for cash ISA savings will remain the same for all savers.
Savers and investors will be relieved at the lack of changes to CGT or the pension tax-free lump sum.
Financial advice can help people navigate Budget changes and avoid acting on rumours and speculation.


Households, families and business owners are absorbing the tax changes announced in the Autumn Budget, and what they will mean for their future finances. But it can also be reassuring and helpful to reflect on what hasn’t changed.

Claire Trott, Head of Advice at St. James's Place, says: ‘We already knew there could be no change to income tax or national insurance due to the government’s manifesto pledges. But it will no doubt be helpful for financial planning that there were few other major tax changes for individuals. ‘Consistency can be reassuring for investors and pension savers. Many who are keen for calmer waters will have been relieved at the lack of big announcements or tax changes.’

Cash ISA limit
Chancellor John Healey has announced that the proposed cut to the cash ISA limit for savers under the age of 65 will be scrapped.

Rachel Reeves, the previous Labour chancellor, had committed to reduce the total amount that could be saved in cash ISAs each tax year from £20,000 to £12,000, for those aged 65 or under. This change was due to come into force from April 2027. But Healey has reversed this plan.

It means all savers can continue to save up to £20,000 in cash ISAs each tax year. This is good news for first-time buyers, many of whom use cash ISAs as a way of saving up a deposit for a property purchase.

It removes uncertainty and the potential complexity around the treatment of cash held inside stocks and shares and investment ISAs. There was due to be a tax charge of 22% on the interest earned on cash held in investment ISAs. This was to prevent savers attempting to circumvent the cash limit rules by holding cash in other types of ISA. Scrapping the reduction to the cash ISA limit for everyone means this tax charge is no longer necessary.

To read more click on the link below:

Households, families and business owners are absorbing the tax changes announced in the Autumn Budget, and what they will mean for their future finances. But it can also be reassuring and helpful to reflect on what hasn’t changed.

30/10/2026

https://www.awarenessdays.com/awareness-days-calendar/halloween/

Halloween 2026 falls on Saturday 31 October. Find future dates, Halloween history, UK trick-or-treating advice and activity ideas for schools and work.

28/10/2026

What is a Unit Trust?

A Unit Trust is a portfolio of financial assets that are managed by a professional fund manager.

These assets could include stocks, property, and bonds. It is a medium to long term investment for growth and income.

Dowes Wealth is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority).

SJP Approved: 16/7/2026

26/10/2026

Business owners – could new pension and IHT rules affect your succession plans?

From 6 April 2027, most unused pension funds and pension death benefits will form part of an individual’s estate for IHT purposes.

Business owners considering a sale or holding commercial property and other assets through a pension may face succession-planning considerations.

Reviewing pension, business exit and estate plans together can help owners understand their potential exposure and available options.

With less than six months to go before most unused pension funds are brought within estates for inheritance tax purposes, business owners are being urged to consider how their succession plans may be affected.

From 6 April 2027, unused pension savings will count as part of people’s estates when inheritance tax (IHT) is calculated upon death. Under the current rules, most unused pension funds and death benefits sit outside the estate for IHT purposes.

Fewer than one in 20 estates faced an IHT charge for the 2023/2024 tax year according to the latest available data from HMRC.1 However, this is likely to increase notably as a result of the change.

According to HMRC’s own figures, an additional 10,500 estates are expected to be liable for IHT in the 2027/28 tax year. These are estates that previously would not have paid any IHT. Meanwhile, nearly 40,000 estates are expected to face a higher IHT bill than would have previously been the case.2

Business owners may be particularly affected by the forthcoming changes. Many have used pension arrangements not only to save for retirement, but also as part of longer-term succession planning for their families and loved ones.

To read more click on the link below:

With less than six months to go before most unused pension funds are brought within estates for inheritance tax purposes, business owners are being urged to consider how their succession plans may be affected.

23/10/2026

https://www.awarenessdays.com/awareness-days-calendar/wear-it-pink/

Wear it Pink 2026 falls on Friday 23 October 2026. Discover the history, meaning, and ways to celebrate. Full guide.

21/10/2026

What is an ISA?

An ISA, (Individual Savings Account) is one of the most popular and tax-efficient ways for UK residents to invest and save for the future.

Investments in an ISA are free of income tax and capital gains tax for the duration of the investment.

Dowes Wealth is an Appointed Representative of and represents only St. James's Place Wealth Management plc (which is authorised and regulated by the Financial Conduct Authority).



SJP Approved: 16/7/2026



St. James's Place

19/10/2026

Shielding protection cover from inflation

The longer a policy is in place, the greater the risk inflation will erode the real value of a fixed benefit.

Index linking (linking the policy value to inflation) can help the payouts keep pace with rising costs.

Financial advice can ensure you take out the right protection cover for you and your family.

Most of us understand that inflation pushes up the cost of everyday essentials, from food shopping to energy bills. But fewer people realise it can also reduce the future value of their protection cover.

If you have life insurance or critical illness cover, the amount paid out might stay the same while the cost of living continues to rise. Over time, that could mean the policy provides less financial support than you originally intended. That’s why it’s worth considering ways to help your protection cover keep pace with inflation, so it continues to provide a valuable safety net for you and your loved ones.

How inflation erodes your spending power
It can be helpful to keep tabs on your everyday costs and outgoings – the mortgage, energy bills, petrol, and food shopping. It supports your household budgeting and helps you feel in control. It can also help you understand how much protection, such as life insurance, critical illness, and income protection cover, you may need.

Many people will have felt the effects of rising costs in recent years as prices have increased. This is inflation reducing the purchasing power of your money. It means the same amount of money today may buy less in the future.

Niki Patel, tax and trust specialist at St. James's Place, says: “The higher inflationary environment of the last few years is a reminder that the spending power of money changes over time. This is an important factor to consider when taking out or reviewing a long-term insurance policy.

“The benefit or payout from a critical illness, income protection or life assurance policy could have much less spending power in a decade or longer if it doesn’t increase over time.”

To read more click on the link below:

Most of us understand that inflation pushes up the cost of everyday essentials, from food shopping to energy bills. But fewer people realise it can also reduce the future value of their protection cover.

16/10/2026

https://www.awarenessdays.com/awareness-days-calendar/adventure-day/

Adventure Day 2026 falls on Saturday 17 October 2026. Discover the history, meaning, and ways to celebrate. Full guide.

14/10/2026

Pensions and IHT: the 'double tax' trap

From April 2027, most unused pensions and death benefits will fall into estates for IHT purposes. In some cases, inherited pensions may be subject to both inheritance tax (IHT) and income tax.

If you pass your estate to a spouse or civil partner, it’s IHT free.

There are financial planning opportunities such as gifting, annuities and insurance cover which can help lower the tax burden for your beneficiaries.

For years, pensions have offered a valuable tax advantage alongside retirement income, enabling people to pass on wealth to the next generation. But from April 2027, changes to inheritance tax rules could mean some families face a significantly larger tax bill than they expected.

In some cases, beneficiaries may face both inheritance tax and income tax on inherited pensions – this is known as the ‘double tax trap.’

Who will this impact?
Inheritance tax is charged on estates worth more than £325,000 (the nil band rate). For homeowners, the threshold can rise to £500,000 through the availability of the residence nil-rate band – an extra £175,000 IHT free allowance available when a person’s direct descendants inherit your home.

If your estate (which is likely to include your unused pension from April 2027) exceeds this threshold, your unused pensions may face the 'double tax' trap.

However, if your pension is passed to your spouse, no IHT needs to be paid on the unused funds.

How does the 'double tax' work?
Currently inherited pensions may be subject to income tax in certain situations. For example, if you die aged 75 or over, a large lump sum payment is made. The move to bring them into estates for inheritance purposes from April of next year effectively adds a second layer of tax – IHT.

Let’s look at an example where you die aged 75 or over:

An unused pension of £100,000 (that has pushed the estate above the IHT allowance) would initially face IHT of 40% - £40,000. The remaining £60,000 may then be subject to income tax when the beneficiary withdraws it. The tax rate levied will depend on the income tax band in which the beneficiary’s income currently falls.

As the example demonstrates, beneficiaries can be left with significantly less than the original pension value once both taxes have been applied.

For years, pensions have offered a valuable tax advantage alongside retirement income, enabling people to pass on wealth to the next generation. But from April 2027, changes to inheritance tax rules could mean some families face a significantly larger tax bill than they expected.

12/10/2026

The missing years: caring, career pauses and long-term planning

Women are more likely than men to take a career break (56% vs 38%), but it can come at a financial cost.2

Career breaks can affect earnings, pension savings and long-term financial security, while also making the return to work more challenging.

Understanding the potential impact and planning ahead can help women make informed and confident decisions about their financial future.

Figures show women are substantially more likely than men to take a career break during their working life.1 Whether it’s maternity leave, caring for young children, or looking after elderly family members, the responsibilities that lead to time out of paid work are more likely to impact women.

But while career breaks are often a positive experience, they can have long-reaching effects, both financially and on women’s confidence about returning to work.

This is where having a financial plan can help. Instead of treating career breaks as interruptions or gaps with damaging financial impacts, they need to be recognised as a normal part of women’s financial journeys.

Sensible long-term planning can help women more confidently navigate these changes in their working life.

The realities of career breaks
For many women a career break is a positive choice. It may involve new caring responsibilities, such as having children, for example. For others, a career break may be a time to step back and recharge. It might offer the space to consider and plan a different career path.

One in five (21%) women say their career break allowed them to reset and 14% said it gave them peace of mind.3

But not all career breaks feel positive or energising. Redundancy or illness can also give rise to an enforced career gap that wasn’t expected.

Regardless of the reasons, career breaks can bring disruption to long-term finances. In some cases, this can be severe. Our research found a fifth (19%) of women felt less financially secure as a result of a career break.

Multiple and longer breaks as well as early retirement (a route sometimes taken by women to care for elderly family members) tend to have a particularly significant impact on pension savings. Depending on the circumstances, lost pension contributions, including employer contributions, can mean a shortfall in pension
saving adding up to tens of thousands of pounds, compared to the pension pot of women who didn’t take a career break.

Loss of confidence
In addition to the financial issues, career breaks can also erode confidence for some women.

After time away, some women may feel less confident about applying for more senior roles or taking on additional responsibility. But this could mean forfeiting the chance to grow in their career. Many women may lose out on earning potential in the years after a career break, as well as missing the chance to
contribute more into a pension.

Our research found that among those returning to paid work after a career break, one in five women (21%) returned part-time as opposed to full-time. This compares to 9% of men who returned part-time after a career break, while 93% returned full-time.4

To read more click on the link below:

Figures show women are substantially more likely than men to take a career break during their working life.1 Whether it’s maternity leave, caring for young children, or looking after elderly family members, the responsibilities that lead to time out of paid work are more likely to impact women.